Monthly Archives: July 2015

BCLC’s online gambling site PlayNow.com revenue grew nearly 20% last year

The British Columbia Lottery Corporation (BCLC) says its online gambling business grew by nearly one-fifth last year but remains a miniscule contributor to its overall revenue.

The provincial gaming monopoly issued its annual report last week, showing its fiscal 2014-15 profit hit a record $1.25b, 6.8% higher than the previous year, on revenue of $2.9b derived from lotteries, casinos, bingo and eGaming.

BCLC reported that its net win per capita rate was $482, around $28 higher than its target, largely as a result of its thriving VIP business. The high-roller gambling business in BC casinos enjoyed an “exceptional performance” during the fiscal year, helping to offset lower lottery sales. Overall casino table game revenue rose nearly 23% to $555.1m.

However, BCLC warned that its reliance on high-rollers – most of whom are Asian tourists – is dangerous. BCLC says these VIPs could choose to patronize casinos in other jurisdictions or simply find other ways to blow their discretionary cash.

Paddy Power destroys leaked Rolf Harris advert

Paddy Power has decided to destroy an ad featuring convicted sex offender Rolf Harris, after receiving more than a few heckles on social media.

The advert, with a slogan “The only Aussie we don’t want to get out,” was to be used in the Ashes cricket series between Australia and England but Paddy Power became concerned that it may have “crossed the line.” Although the mobile ad didn’t actually make it to the grounds, it was photographed outside an industrial estate and released by an unauthorized tweet.

Australian TV personality Rolf Harris is currently in a U.K. prison for a string of sexual assaults against underage girls and has been reportedly writing a song accusing his victims of being after his money.

“We decided that, on balance, although potentially amusing for the cricket fan, the sentiment of the advert crossed the line and had the potential to cause offence,” said Paddy Power spokesman. “It’s not often Paddy Power make this kind of decision but in this instance we believe we made the right call not to run it.

Iowa jury deliberates former lottery worker's fraud case

An Iowa jury began deliberating Friday after hearing over four days the complex story of how a lottery security officer allegedly fixed the Hot Lotto game in 2010 to get himself a winning ticket for a $14 million jackpot and then attempted to cash it anonymously. Eddie Tipton of Norwalk, Iowa, is charged with two counts of fraud, which carry a maximum sentence of five years in prison each.

Press release distribution, EDGAR filing, XBRL, regulatory filings

Doctors Earn More Than $54 Million in Bonus Payments From UnitedHealthcare for Improving Health Outcomes and Closing Gaps in Care )–UnitedHealthcare recently awarded more than $54 million in bonus payments to more than 4,000 care providers named winners of the PATH Excellence in Patient Servi… )–Electro Rent Corporation today announced that Craig Jones, 69, the company’s Chief Financial Officer, is retiring effective August 31, after a 26-y… )–Clean Fund, a leading nationwide provider of property assessed clean energy capital for commercial properties, announced today the closing of a series of …

Echo Entertainment wins bid to build $2b casino in Brisbane

Echo Entertainment has won the right to build a new Brisbane casino, beating rival James Packer’s Crown Resorts.

Premier Annastacia Palaszczuk announced the decision, following the independent panel’s recommendation, which was signed off by Cabinet on Monday afternoon.

“The independent panel went through a number of criteria and we’ll be going through this in more detail tomorrow [Tuesday], but one of the signature efforts was this large amount of public space that families will be able to enjoy,” said Palaszczuk.

“Plus the probity checks, as well as the consortium was able to demonstrate to the government that they are ready to proceed,” added Palaszczuk. “We needed to have that financial security but also we wanted to minimize any risk. So this is a good announcement, it is fantastic for Brisbane and I am quite sure the people of Brisbane will embrace the new Queens Wharf development.”

Caesars CEO Mark Frissora criticized by former employer for accounting failures

Rental-car company Hertz Global Holdings Inc. has criticized former CEO Mark Frissora’s “management style and temperament,” as the company wraps up a financial restatement.

Hertz has finally managed to identify the $207 million it had “lost” through additional pretax misstatements from 2011 through 2013, which according to a statement cuts the company’s pretax income to 23% and net income by as much as 26%.

In a July 16 filing with the U.S. Securities and Exchange Commission (SEC), Hertz said that an investigation found “an inconsistent and sometimes inappropriate tone at the top” among former senior management that led to the company’s sometimes failing to comply with accounting principles.

“Our incorrect accounting was caused by the foregoing control deficiencies, along with a complex mix of structural and environmental factors. One of those factors was the tone set and pressures imposed by our former Chief Executive Officer, which were inappropriate in certain instances, and may have been a factor influencing one or more employees to record an accounting entry now determined to be improper,” the filing said.

Bluff Magazine operation to close in August

Churchill Downs Inc.-owned Bluff Magazine is set to close operations within the next few days, following laying off its employees.

Bluff founder Eric Morris posted the news on his Twitter account confirming that Bluff Media has let go of the entire staff and the company will close on August 15th after more than a decade of operation.

“There were only four people left and I (originally) hired two of them,” said Morris via his Facebook account in response to questions posed to him on Friday.

Bluff Editor-in-Chief Lance Bradley also confirmed the news through his Twitter account.

Liv Boeree Starring Alongside the Likes of Elon Musk at Effective Altruism Global 2015

Liv Boeree will speak at the Effective Altruism Global 2015 conference in San Francisco, alongside luminaries such as Elon Musk, Nick Bostrom and Jacquelline Fuller.

Elon Musk.

That’s the name that spills out of the mouths of most poker players when I ask them to name the first person that comes to mind when they think of the word ‘successful.’

Elon Musk.

PokerStars Questions Former US Clients Over Daily Fantasy Sports Interest

PokerStars continue to move towards their planned introduction of a Daily Fantasy Sports product by questioning their former US based clients in a specially organized e-mail campaign.

John W. Kindt will be crushing grapes when he hears that PokerStars has recently polled their former US based customers on a wide variety of Daily Fantasy Sports (DFS) based questions.

According to Cardchats’s Phil Conneller PokerStars came out of US based customer e-mail retirement last week to ask them to participate in a survey that asked numerous questions regarding their interest in DFS.

Whilst this isn’t groundbreaking news, it is further evidence that PokerStars are moving towards their Sep DFS launch, as outlined by Amaya Gaming head honcho David Baazov during an earnings call back in March.

Better than the lottery? State website paying money to 1 in 5 Utahns

The Unclaimed Property Division of the Utah State Treasurer’s Office returned more than $22.5 million to rightful owners in the past year alone, a 34 percent increase from the prior year’s all-time high of $15.8 million. The Unclaimed Property Division of the Utah State Treasurer’s Office returned more than $22.5 million to rightful owners in the past year alone, a 34 percent increase from the prior year’s all-time high of $15.8 million.